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Sioux County, NWIA | At this point, I think that as long as there are reasonably rational minds running the federal budget, there is not cause for undue concern. If deficit spending (i.e. money creation) goes wild from starry eyed whack jobs running the Federal budget, we will have problems eventually. There is no system under the sun that cannot be screwed up by a determined idiot(s). The Boy Scout motto of “be prepared” is a good one. This is not to be confused with deficit spending in general, I see no problem with a steady rate of deficit spending. It’s self evident, after some thinking, that our money supply needs to increase steadily. I see deflation (appreciation) of the dollar as being particularly hard on people who have no money somewhat like the appreciation of land makes it more difficult for those who have little or no land to acquire it.
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MMT
